2010 Top Advisor Rankings: South Dakota

Ranked #1: 2 David ♦ David Olson, Merrill Lynch. Besides counting retirees and other high-net-worth individuals as clients, David Olson spends much of his time with his specialty, offering investment advice to midsized, independent telephone companies. "There are thousands out there," he says; under- the-radar telcos serving mostly rural areas. Olson, 61, has been working with them for more than 25 years. Spread across five states, these companies represent about 30% of his accounts. Because their business is so capital-intensive, phone companies require largely liquid investments. Olson advises them to target predictable income by investing in low-volatility and low-risk instruments such as Treasuries, municipal bonds, and agency securities. For Olson, it's all about the basics. "We all want a 20% three-month Treasury bill with zero inflation," he says. "But we can't have it. So we're just blocking and tackling. We need to be very fundamental to avoid mistakes." - MARINE COLE